Overstory closes Series A supercharging its leading vegetation AI platform, reducing wildfire risk and power outages
Today marks another incredible milestone on our journey. We are thrilled to announce we closed a $14 million Series A, led by B Capital and welcoming The Nature Conservancy to our collective of climate-minded investors. The raise includes additional investment from Convective Capital, Semapa Next, Bentley iTwin Ventures, Pale Blue Dot, CapitalT, Moxxie Ventures, and Overwater Ventures.
We will use the investment to supercharge the growth and impact of our leading vegetation intelligence platform and team, as we continue to help utility partners more safely and reliably deliver power. We take pride in our ever-expanding community of investors, teammates, and customers who are committed to mitigating wildfires and the climate crisis, protecting and restoring natural resources, and using innovative technology to operate efficiently and effectively.
Working at the convergence of climate change, the AI revolution, and utility transformation
We face a changing climate every day. Wildfires are all too frequent and tragic, destroying forests and homes, and generating damaging air pollution and carbon release. Extreme weather and power outages are taxing, if not deadly. Climate change and aging infrastructure place increasing pressure on the power grid and utility teams, who work tirelessly to prevent outages and wildfires, and do so in the face of shrinking budgets and labor shortages. Utilities today evolve as fast as they can to meet modern demands–of the grid, climate shifts, and consumers alike–and are now more than ever in need of innovative, efficient technology. Simultaneously, we’re experiencing a rapid revolution in AI, across industries, at work and at home. We see the potential for how AI can enhance old processes and unlock new possibilities.
Overstory serves all three of these massive and converging moments. We were founded with the goal of using AI to better understand and protect the planet’s vegetation–tech and trees. We’re aiming our super power at today’s most urgent needs and biggest areas for potential impact: power reliability, wildfire prevention, and operational efficiencies for utility teams.
“We are proud to partner with the incredible team at Overstory and support their work to leverage AI and create a safer, more reliable grid.”
Investing in tech, quality, and partnerships
At Overstory, we know tech, we know trees, and we know our customers. Our vegetation intelligence platform analyzes massive volumes of satellite imagery and produces unparalleled territory-wide and tree-level insights. Starting with the greatest opportunity for impact, we proudly partner with over 40 electric utilities–big and small–including 4 of the top 10 US utilities, innovative coops, and leaders across Canada, Brazil, and Europe. We’ve empowered increased reliability, wildfire mitigation, and streamlined operations for customers like Powder River Electric Cooperative, Holy Cross Energy, and Fortune 500 utilities.
To date, we’ve monitored over 2 million acres of land and protected $6 billion of utility assets.
Looking ahead, we remain laser focused on creating the highest quality, most innovative intelligence platform, insights, and experience, and making our customers’ demanding jobs a little easier. We will continue to enhance our proprietary platform and actionable insights. Think: enhancing our machine learning models that determine height, species, and health of any tree in the world, proprietary infrastructure for processing satellite imagery, and a data flywheel fueled by in-house arborists and key customer contributions. Plus, expanding our customer-friendly platform to be used where, when, and however needed to excel at the job.
Ultimately, we remain focused on what we do best (tech and trees), and empowering our customers to do what they do best. Together, we drive toward a safe, reliable, biodiverse future.
Expanding our team, the key to our success
The secret to our continued success? Our incredible team–filled with talent, expertise, passion, kindness, and diverse backgrounds, perspectives, and experiences. From machine learning engineers and data scientists, to arborists and wildfire experts, to business pros around the globe, we’ve got the dream team. What do we all have in common? We care. We care about the planet, our customers, and each other.
We’re a remote-first company with teammates sprinkled throughout the US, Europe, and more, plus a homebase in our founding city of Amsterdam. More than 50% of the leaders in our company are female or non-white males. Together we work across 9 countries, represent 12 nationalities, speak 13 languages, and spend our free time exploring and appreciating the planet with family, friends, and too many pets to count.
Interested in partnering with us? Please reach out!
Interested in joining our team? We’re hiring!
Special thanks to Tim De Chant at TechCrunch for sharing the news!
